Health insurance for millions of Americans will soon become more expensive, especially if Affordable Care Act (ACA, also known as Obamacare) subsidies expire at the end of 2025. In addition, certain states may be pulling back prior expansions to Medicaid and adding new work requirements under Medicaid that may reduce eligibility for such coverage for many individuals. All of this is underscored by the usual annual increase in premiums, which is significant for many individuals and families, considering the impact of inflation in recent years.
While membership in CHM is unaffected by these changes, your friends and family might be impacted, depending on their insurance plan.
The ACA included subsidies that took effect in 2014. These subsidies helped to primarily offset the rising cost of health insurance plans on the marketplace by using taxpayer dollars to bring down the cost to the consumer.
As we draw closer to the end-of-year ACA subsidy expiration, there will undoubtedly be news reports about who may be impacted the most. As CHM members, there are two actions for you to take:
- Be prepared: Since CHM doesn’t take taxpayer dollars, these expiring subsidies won’t affect your CHM membership cost. However, if you do have a primary insurance plan that may be impacted, you can consider leveraging a federal-or state-approved health savings account to help off-set cost increases. Please consult your tax and/or accounting expert for guidance.
- Reach out to Christian friends, family and acquaintances who may be adversely affected by these insurance cost changes to tell them about non-government, non-insurance, faith-driven cost-sharing through CHM. This will benefit them, you, and the ministry.
CHM’s Refer-a-Friend program also helps offset costs for you and friends you refer. Refer-a-Friend allows members to earn CHM membership credits for bringing others into the ministry, while those new members receive a welcome credit. With millions of Americans possibly losing the support of taxpayer funding through subsidies, CHM is an even more attractive option for friends and family—which is true even if the subsidies are renewed.
That could mean more credits, more savings, and more sharing in your CHM future through Refer-a-Friend:
- Refer with ease: Simply share your phone number with your friend, and they’ll enter it with CHM when they enroll.
- Speedy savings: Get a $200 credit directly applied to your membership as soon as your friend’s membership is active.
- Welcome credits for your friends: When your friends join, they get 50 percent off one monthly contribution.
More information about Refer-a-Friend is available on the Member Portal.
*Editor’s note: Here are a list of articles that show the projected changes:
- How Much More Would People Pay in Premiums if the ACA’s Enhanced Subsidies Expired?
- Cost of Obamacare expected to soar as subsidies expire and insurers hike premiums
- Congressional District Interactive Map: How Much Will ACA Premium Payments Rise if Enhanced Subsidies Expire?
Please note: This article is actively being monitored and will be updated as new information becomes available. Please check back regularly for updates.
